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20110701
20110731
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. that it could still fall apart. in these all-important details. let's get right to jon karl who first broke this story, the story of a framework last night. jon, dan used the word at the top of the broadcast, the emphasis here is on "fragile." >> reporter: that's right. the details are still being worked out. you know how important the details are, and nobody has signed on the dotted line yet. but i am told congressional leaders will brief their membership on the framework of this tentative deal later this morning. >> majority leader. >> reporter: late last night, senate majority leader harry reid called off a vote on a debt ceiling plan, citing progress towards a deal. >> i'm glad to see this move tord cooperation and compromise. i hope it bears fruit. >> reporter: congressional sources tell abc news the two sides have tentatively agreed to a framework that includes a debt ceiling increase of up to $2.4 trillion, enough to last through the presidential election. agreement on more than $1 trillion in spending cuts over ten years and a new special congressional committee that would recommend
talk couldn't get the votes. they pulled it shortly before midnight. jon karl is watching it all from capitol hill. the speaker says he'll try again today. >> reporter: he will, but, george, this debt ceiling crisis has become a political crisis for republicans. boehner will convene all 240 house republicans this morning to make one final push for it. but the reason he pulled the bill last night is he just couldn't get enough republicans to pass his own bill. republican leaders worked late into the night trying to get the votes to pass their own debt ceiling bill. reporters swarmed around utah republican jason chafitz. he told us he's still not sure. >> i'm surprised they are not twisting and ripping arms off. >> reporter: the speaker said he can't do his job if you respect there to support him. >> i am fully supportive of the speaker. i just can't support his bill but i do support the speaker. >> reporter: but for speaker of the house john boehner, the political stakes could not be higher. >> his leadership of the republicans in the house and being speaker is clearly at stake here if
and roasted garlic seafood bake or sn crab and crab butter shrimp. [ jon i wouldn'tut it my table at home, i wouldn't bring it in. my name's jon forsythe, and i sea fd differently. how'd you learn to do that? what'd you use? every project we finish comes with a story built-in. it's how our rough ideas become "you did that yourself?" so when we can save more on the projects that let us fix, make, and do more... that just makes the stories even better. more saving. more doing. that's the power of the home depot. add some style to your sink, with this moen banbury faucet for the new lower price of 79 bucks. >> shepard: it's now been four months since the start of the not war in libya. the country's leader has yet to give up. today a new show of defiance, the only person ever convicted even attended a rally in colonel qaddafi's honor. as you probably recall he was supposed to be dying or even dead by now. that's he in the wheelchair there you see, back in 2009. >> the scottish government set him free after doctors say he had just months to live. the 1988 panam bomb something still fresh in the m
and jon karl have been tracking it. let's start with jake. >> reporter: last night aftete their primetime addresses, house speaker john boehner was overheard saying he didn't sign up to go mano a mano with the president of the united states after the president called for congress to compromise. the president spoke sternly to the american people last night blaming house republicans, especially freshmen, for holding up a debt deal. >> the only reason this balanced approach isn't on its way to becoming law right now is because a significant number of republicans in congress are insisting on a different approach. >> reporter: house speaker john boehner responded by saying that the president wants to continue his rampant spending. >> the president often said we need a balanced approach, which in washington means, we spend morerend you pay more. >> reporter: right now there a a two competing bills, to raise the debt ceiling and reduce the deficit. a house one that likely cannot pass the senate and a a nate one that cannot likely pass the house. both raise the debt ceiling, cut more than $1 tril
markets. let's get a reality check from abc's countdown team. jake tapper at the white house. jon karl on capitol hill. bianna golodryga from the new york stock exchange. looking at the asian and european markets overnight, there seems to be concern but not panic yet, bianna. >> reporter: that's right. wall street seems to be patient with washington. markets opening blower. just about 130 points lower. not the knee jerk reaction that people were fearful of. things are still at an impasse. even though the markets aren't selling off, people are concerned about what's still on the table a credit downgrade. the s&p says the u.s. could lose its aaa ratings in the next three months. that would mean that interest rates go higher. it would be more difficult for people to get a loan out there. and it could be a big burden for this economy, as we're just starting to recover. george? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. that has not happened. it seems, the only thing that everyone seems to be accepting th
the latest for us overnight. good morning, jon. >> reporter: good morning, robin. we are reaching crisis time here on capitol hill. the republicans delayed a vote on their bill in the house because they don't even have enough republican votes to pass their own bill. democrats don't have the votes to pass their bill either. the only thing certain up here right now is that everything is in doubt. >> we appreciate you calling. >> reporter: the calls are pouring in. plenty of outrage but like congress itself, the callers seem hopelessly divided. >> i would really like for him to hold the line against any deal in congress. >> i am calling to ask that you cooperate with the president's efforts. >> reporter: the whole place seems to have broken down. republicans can't even convince some of their own members to vote for the republican plan. in a closed door meeting republican leader eric cantor told fellow conservatives to "stop whining and support the bill." acknowledging "the debt limit vote sucks." across the country, that's the view of washington itself. >> no one is certainly listening to the pe
? >> jon, they had been hoping on capitol hill to come up with some sort of deal before the markets opened today. the only thing that everyone seems to be accepting that any deal won't include any new tax increase. >> that's the big deal. you have harry reid coming up with a plan for democrats. that he says includes $2.7 trillion in spending cuts over the next ten years and gives the president the debt ceiling increase that takes him all of the way to 2013. republicans are already saying that those -- his plan includes gimmicks and phantom cuts. so the republicans are coming up with their plan, which would include about $1 trillion in cuts now. it would require the president to come back to congress next year to ask for another debt ceiling increase. >> that's the huge sticking point for the white house. the president has made it clear time and time again that he won't sign a short-term increase. he squashed it at the meeting last night. >> republicans leaders have said that as well. they didn't want any short-term solution to this problem. they changed their tune on this. white house said
Search Results 0 to 15 of about 16 (some duplicates have been removed)

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